tv Your World With Neil Cavuto FOX News March 20, 2012 4:00pm-5:00pm EDT
>> we propose to get our budget on a pat to balance but to paying east debt. >>neil: here we go again, paul ryan setting a hatchet suspending and democrats wasting little time setting a hatchet. to him. crying over ryan part deux. welcome, everyone, i am neil cavuto. duh. it wasn't an accident that house budget chief paul ryan chose today to announce spending cuts he knew a lot of folks would hate he firsted once americas looked at latest debt federal governments also out today they would hate them more. and maybe him less. because more or less here is where we stand. in budget quick stand. sinking. and searching fast. really fast. i am talking nearly $5 trillion fast. that is how were our debt has green the last these years with this president more than the enter eight years of the last
president. and ryan with a land -- plan to stop the red has democrats seeing red. ryan goes after everything from medicare to food stamps and pell grants and the structure of medicare itself and the details are bringing out the devils like the plan to slash the federal workforce by 10 percent and cut $2 trillion in taxes that the democrats say favor the rich at the expense of the poor. and men and women congressman michele bachmann has heard this before but commends her league paul ryan for the effort. she leaks what she has seen and is talking to us. congresswoman, thank you for coming. >>guest: what is not to love with the paul ryan plan? we have a future and hope for the next generation as opposed to seeing the united states come closer toward an economic collapse. this is the direction we need to go and we need to stand by it
and support it. >>neil: does it worry so few your republican checks -- colleagues are standing behind him? >>guest: well, the more they take a look at what president obama's plan is compared and contrasted with the ryan budget it would be clear to see we want a positive opposite for growth in the right sector and that is where the ryan plan elevens us. >>neil: what happens they take apart the details including medicare provisions without going into all the details talk about changing medicare as we know it for the 55 and under to a program where the government would, essentially, encourage you to underwrite efforts to find health insurance. that is going to be, i imagine, a big campaign issue and it will be like throwing granny off the cliff. what do you thing of that? >>guest: the democrats can go ahead and try it but what they
can't answer is the fact that paul ryan's plan does and does effectively is attack the real problem in health care which is increase costs. when you have competition between private insurance companies which is where paul ryan wants to take us, that brings down the cost of health care. that is what president obama failed to do in obamacare and what we have to do is open up the private sector, have more competition, and that will bring down the price of health care for senior citizens and when seniors realize they will get better quality health care and pay less for it, this will be a very positive, shining charge that senior citizens will want. >>neil: then why rent more republicans on board if one republican staffer tweeted "the g.o.p. budget is a great tool to further divide our caucus and provide fodder for democrats' attack ads."
>>guest: what we need to do is be prepared to extend up for our goodies. this is a good idea. this spending cuts spending&cuts taxes. we put on paper what we talk about all the time. this is more than a discussion but something our nominee for the republican party nodes to put forward as our positive pro growth vision. >>neil: there is a feeling that republicans are positioning themselves trying to be serious about getting the budget cuts under control but doing so at the expense of the less fortunate, elderly, you have heard this before, and even among your colleagues there is a concern that will resonate in the pitch that the president has been raising against the oil companies and against success and against the rich you are
maybe more to the point, the budget chief, paul ryan, has given them another bullet for the gun. >>guest: actually, the big bullet we should talk about is the fact that government's own statistics that came out a month ago in the house budget committee and by their own figures the federal government tells us effectively our economy in the united states will effectively shut down in 15 years. 15 years. that is according to the facility's own statistic. we are trying to be the adults in room and provide a positive pat forward. we cannot delude ourselves thinking we can continue with our standard of living in the economy shuts down so we are putting together a plan to try and keep the economy from shutting down and that is why we should not be afraid of this or the naysayers. we need to be bloody, bold, and forth right and go forward with this positive plan.
>>neil: do you get a sense the president is more or less taking the approach i am for sweeping cuts over 10 years and obviously paul ryan is for sweeping cuts but when push comes to shove, we are still going to have at the very least under congressman ryan's man the most aggressive of them all, a few trillion more in total debt than we have today and that is with all of this aggressive changes. >>guest: when i ran for president of the united states under the republican party i was advocating far more spending cuts and lower tax rates than even are in the ryan plan. we recognize there have to be compromised in order to move forward. i'm grateful for this budget. this is something we could be proud of but i would is gone further. i agree, we should not go in the direction of more debt. i will say when i came to congress in january of 2007 it took us 219 years to accumulate
$8.67 in debt. this year we will double that amount in six years' time. we cannot go down this road and suffer any delusion we will remain the superpower of the world. we went. i want the united states to be the number one economic and military power and in order to do that we need to start acting like a superpower and stop spending more money than what we take in. >>neil: the president is sign on to this plan that will include bridges and that sort of thing but has a special treatment with what you want to do. can you update us on that? >>guest: there is no question i was being targeted but what is unfortunate if my district we have the longest unfinished bridge project in the history of the united states of america. but we successfully brought together both democrats and republicans and we passed the bill. and the problem?
a federal bureaucrat said it would be "visual pollution," to build a bridge. in a sight where there already is a bridge. that is nonsense, the sierra club grabbed the word "visual pollution," and kept the bridge tied up in knots for 20 years and took an $80 million bridge and because of delays and addtional costs now we are look at adding hundreds of millions. that is what has to end in the united states congress and i was thrilled to lead this effort to bring republicans and democrats together and finally solve this. we passed 101 bills so far in this session, and many of them are things that are not high priority like naming post offices this was a real effort and we accomplished something and now we can get a major project done because we put aside partisan differences and we did what the people deserve. >>neil: thank you.
>> last year the guns ablazing for medicare and the republican posse in congress locked and loaded and audiences and critics panned the performance. but like "weekend at bernies," even when know wanted to see weekend at bernie's i they made the sequel anyway. >>neil: liberals ripping marlin and now simpson is ripping them at 6:00 p.m. on fox business network. from the nation's debt to the pain at the pump it is putting americans in debt, gas up 11th straight day. in illinois, voters are headed to the polls tonight it is $4.60 a gallon and it has been over $4 a while. >> the energy prices are down and the president has two energy
policies "n-o." >> can they take their kids from event to event and school and soccer practice and people are hurting with gasoline prices the way they are. >>neil: and now, our guest says going after the president on gas a winner. but for how long? that depends on how long gas prices stay at these levels. >>guest: it is the republican candidate playing offense. republicans have been on defense whether it is the payroll tax or birth control and now offense. this helps them because they are going after president obama and romney calling for senior administration officials to be fired and he is arguing you can affect gas prices and, republican, rahm emanuel in 2007 won back the house for democrats based on gas prices so i don't think the republicans can put all their eggs to one basket and that is what john mccain did in
2008 when gas prices went up that helped and they went down and there was this more plan (b) in an election that was tough to win. >>neil: and senator obama was saying the last run up under president been he could and should be doing more. that was then and this is now. do americans agree this is only so much he can do or like good news it sticks to the big guy. and bad news sticks to the big guy. >>guest: it sticks like the quaterback in football you get blamed, you get the credit, no matter what. but the experts will say the president does not have that big a role but it does not matter and those who are hurting do not want to hear that. they want to hear a short-term plan and long term plan how we get gas prices down and newt gingrich talking about $2.50 a gallon, but obama has criticized that, ridiculed it but the message of whether it is drilling not arctic or drilling in specific places that will bring down prices that resonates
and that is why president obama has changed and shifted the vat joy showing -- strategy showing america is drilling but americans want more. >>neil: thank you, bob. primary time again and we will say the ladies getting very anxious, again. >> it has been amazing. kind of like being at a party. all that mystery. exciting. the game is getting better. >>neil: please you are embarrassing me. anyway, maybe they are not tag about me but the gang is back better than ever at 7:58 people, a couple minutes before the polls close in illinois and we are on those poll results and the money reaction to them. market reaction from around the world. you cannot find it anywhere else. but i am always thinking to myself, you may not get fox business network. demand it! they are angry. you better watch it.
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a new trend taking hold among employers, and that may not. more and more companies now asking job seekers for their facebook password and believe it or not the judge says in a last the cases it is all completely legal. that can't be? >>judge napolitano: legal for them to ask but you do not have an obligation to give it to them. >>neil: but if you don't. >>judge napolitano: well, if the potential employer is the government it is not legal to ask. they cannot demand it. they cannot get it because the fourth amendment protects it. if you apply for a job with the board of education or local police department they know they cannot ask. you have no obligation. the problem is in the private sector. the problem is, as you pointed out in the introduction to the segment, it is brand new. there are no appellate court rulings on whether this is so. so, people like i who are legally trained and watch this for a living have to guess which way the courts will go. this is in the category of human
information that most courts would say, no, you cannot have it. like the key to your locker or the key to your car or your house. but people will give it because they want a job. they want to please the person who is asking. >>neil: but they will never tell you didn't get the job because you declined to give your facebook password but that will be reason and you surmise that. >>judge napolitano: there are some cases in which mothers have asked for private information from employees and the employee did not give it and they lost the job or did not get a promotion, they sued and successfully persuaded a jury the reason they lost the job or lost the promotion because they did not fork over the private information. those people have won those cases and they are rare. usually the cases settle, they never reach a judge. >>neil: what is going on here, really, it was not too long ago where social security, and that is a given, they get that and then the credit report, they get their hands on that and, now,
whatever social site you belong to, is anything secret? >>judge napolitano: this is the loss of privacy. >>neil: beg time. >>judge napolitano: the assault was begun by the government after 9/11. >>neil: but what new dimension does it give? >>judge napolitano: if the employer had someone "friend" you they could see what is on your facebook payment or if they have your personal password they could be able to see everything you have put there even things you have designated just for certain friends and some of that could be embarrassing to you and some could be so private they are not entitled to it. just because i share with you a photograph of me and x, fill in the blank doesn't moan i want our bosses to be aware of this. >>neil: we know it was a dark and stormy night. but do you not cringe? >>judge napolitano: there is
in outrage. last weekend someone said the c.i.a. can spy on you through your dishwasher. that sounds like a joke. you know who that was? general petraeus the director of the c.i.a. and there was in outrage the if that is true and it comes from the chief spy in the country, there should be an outrage. >>neil: thank you, judge. imagine pumping hundreds of thousands into a campaign and your guy does something like this. >> why care what the unemployment rate will be. it doesn't matter to me. >>neil: rick santorum walking that back but is the top money guy worried in
>> why care what the unemployment rate will be the it doesn't matter to me. the campaign does not end on growth rate and unemployment rate. >>neil: that came as the illinois voters are deciding is one of his bigger financial backers worry about this, foster friess is back with us. if to see you, foster. >>guest: i cannot tell you how wonderful it is to be back from the trip to various parts of country. we spent three hours in a primitive village in india and those people out there need america but it is like when you fly commercial airlines they say put your oxygen mask on before you help your kids so we today to get our own house in order to be help to the people around the world. >>neil: and then do you think rick santorum hurt that effort to get him to helping his own campaign house in order with the comments. i know what he went talking about the unemployment rate and he spoke from the bigger picture, et cetera, but you kow how this goes and it has
continue serious damage in illinois with unlimit rate at 9.4 percent. >>guest: why think it has done damage just like you say, people knew what he meant. he darn welled is concerned about the employment rate and he has an enormous compassion for people but if we can guess what was going through his mine in order to get people back to work we have to look at a bigger issue and that is freedom so the issue that we dealing with, are we going to be a country that is run by rules and regulations in do we have the freedom we have enjoyed over the decades that made us great? so he is concerned about employment and the message was, we have to have the freedom to be able to get people back to work and you look at what the obama people have done, if you have 50 workers and you do not provide ensure you have to pay a fine, thousands, tens of thousands, but if you have 49 workers there is in charge. so, what does that did to growth? >>neil: i just think foster and you know this better than i,
he is muddying the waters on the issue, and when he departs from economics and gets into the social conservativism which could be valid, i am not taking anything away from him, but it confuses people and he has a lot very good economic ideas and he was for addressing a lost big tax cuts and the like when the other competitors of the nomination were, and he maybe has gotten off message. do you agree with that? >>guest: no, why, i don't, when he made that comment he was talking all about getting the unemployment rate down if we do not have the tremendous democrats of getting rid of the red tape. the government has declared or will declare that desert lizard is endangered species and it is thousands square mile. how can an animal with home of
1,000 square miles, how can they be endangered species? >>neil: here is what i want to know and you as a big financial backer, do you ever get or would you, potentially get, should your candidate not do well in illinois, he trails in the polls that doesn't mean anything, that he maybe is not as promising as an investor or would you pull back because he is not looking like he is? >>guest: if you called up central casting casting and saie a candidate that can beat obama and you say we have a 53-year-old guy that has gone to 381 townhalls in iowa and grandson of a coal miner --. >>neil: you are saying, talking about fitness but jimmy
carter jogged each day, and he was -- it did not do him a lot of good. >>guest: i was being facetious. the point to make, if you go through a resume of central casting, he has all the credentials of the foreign affairs. he understands what is happening in south america with the jihad catches and chavez and ahmadinejad are setting up, and he authored the iranian freedom security act and he authored the syrian accountability act when president obama was ignoring the situation. >>neil: he was ahead of the curve on a lot but what i am asking as a businessman with some success in his own right you would know about that aspect, that he might get to the point, might, might, might, and the race is a long way great over where he cannot pull it off and get the 1,144 delegates and the president has said as it stands now he won't but he could
have a battle at the convention by denying romney that 1,044 so then it is, what is he in the race for and then it is maybe he is campaigning for ... vice president, and, do you think that if romney were the nominee, he should consider senator santorum for that position? >>guest: will, that is up to mitt romney for whom i have a lot of respect. she a savvy give. it is just the fact that rick because of his youthfulness has a better chance of winning. >>neil: why do you say that? the poll dozen not mean anything but the polls are showing consistently romney has a better chance winning of republican candidates but you init is otherwise. >>guest: well remember the polls in iowa rick was 5 percent, and the polls are like what our success in investing.
we make money because we are able to isolate companies that would do better than what the people and the market spent. >>neil: but you are a value investor, you see underlying value but a value investor sees times there is a point which you sell a stick or do not add positions because you do not see it growing and you do not see that in the case of senator rick santorum. >>guest: he doesn't need my money because he has a lot of other people's money but did you see the poll? >>neil: he is always complaining about money. i think he does need your pun. you better not say that. >>guest: well, there are for core states: ohio, virginia and a couple others and the poll yesterday said that obama is defeated by santorum 4 percent points and romney loses by 4 percent so your idea that somehow it is trading and he could do well in illinois today and i love the fact that romney
outspends him 7-1, so, when we get to the big race obama will have billions and so then you have to have someone would can win on ideas and santorum has proved that in every race he has been in he has been out gunned sometimes by 60 or 70 percent. every vote romney has gotten is $170 each and rick's votes or $2 and change. someone needs to check that out. >>neil: i will. i know you are quite accomplished value investor and we will watch closely, always a pleasure, foster. >>guest: thank you, neil. >>neil: are the saudis trying >>neil: are the saudis trying to pump up the president?ork fit
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and do most everything her sister does 24/7. an invisible hearing aid is wonderful. finding one with zero daily hassle - too good to pass up. call 1-800-411-7040 right now and ask about your risk free 30 day trial. get a lyric in your life. >>neil: with oil prices stabilizing, a clear sign that saudi royal dozen not flip over romney. they are increasing oil production to ease the pain at pump in america. and to hear the principle it maybe the pressure on the president of america. the timing is odd. >>guest: well given the fact that the president is out on an energy tour this week and last week he was out mocking the idea that drilling for additional oil resources here at home would have any effect on the price of oil by the pair relative or gas by the gallon, it is interesting that the administration and
geithner are now praising the saudis for increasing output to keep the price of a barrel of oil down. that part of it is interesting in terms of timing. >>neil: the saudis are thinking all the republican candidates pushing for drill, baby, drill and this president now is not, to the degree they are, so they are figuring in their own self interest, do not let the republicans in. >>guest: if they are looking at the price of gasoline and a barrel of oil, if you are the saudi oil minister you are looking at this presidential race in a lost different ways but just from the perspective of the price of gasoline the republicans are promising to produce at home to become more energy department and that certainly threats their monopoly as our suppliers and the gulf cooperation council nations and opec want to keep us on the
crack pipe and if we produce for ourselves that does not help in terms of long term brother -- prospects. but it is different dealing with the politics and the economics of what is beginning on in iraq and nuclear weapons and israel. so they have a couple of different things to take into account. >>neil: but a failure thinking saudi could say if, say, i am coming from the obama administration and i want to make us energy independent push green, solar and wind, longer term i will be more damaging to use saudis in your oil interest than any of the republican gives. what do you think? >>guest: well, i don't think the windmills and solar are on the brink of threatening the saudis' money train. if they thought that was the future of energy they would invest in windmill and solar you
would think solar would be up their alley they are in the deputier, and they have lots of sunshine and lots oil so why think they will feet thereined -- they feel threatened by alternative issue because everyone recognizes we have a petroleum-based economy our primary driver of all things economic and that will be the case for quite some time regard misof government efforts in the united states. look we saw them again in germany and spain and all over europe abandoning the solar projects and the alternative energy projects because they have invested so much money and they have failed and we are in the process of learning the same lesson here and the saudis recognize that. >>neil: for points, chris, thank you very much. remember this? >> we need to take responsibility right now in this administration forgetting our spending under control.
>>neil: that was then. this is now. president racking up more debt so far in his last though years than all of the predecessor's eight years and herman is raising cain. whee! whee! wheeeeeeeee! ah heads up. wheeeeeeeeeeee! everything you love about geico, now mobile. download the new geico app today.
>>neil: herman cain said we need the 9-9-9 plan more than ever with president obama racking up more debt in three years than president bush in eight years and herman cain is not messing around calling next month ton a march to push the plan. do you think the debt issue resonates when people talk about the biggest concerns are jobs, and gas, and debt. when it comes to the membership it -- american people it is too vague for people to comprehend. >>guest: i don't think is.
i'm out this all the time listening to people and talking to people. they understand the concept of $50 trillion. president obama made a promise when he was a candidate for early in his campaign wanting to reduce the table debt by 50 percent. it has increased by 50 percent. the american people get that. here is the other thing, there was in way he would be able to keep that promise other than a robust economy in terms of economic growth which we have anemic growth be is not row best and this is.i hope the 9-9-9 plan and there is still a lot of energy out there for the plan and dramatic cuts in spending. >>neil: on the 9-9-9 land, and paul ryan has a plan to reduce taxes over the next 10 years and democrats bouncing on that as a boon to the rest. >>guest: democrats have the
same old standard lame line about a boon to the rich because they don't want a robust economy. paul ryan has made a great first step with what he laid out today. what i like he says it is a cows, -- cause, not a budget. it is a cause to get the tack brackets down to 10 percent and 25 percent, that is a great start. this is the part that the obama administration simply will not acknowledge. you have get to cut-rates rather than raise rates if you want the economy to grow faster and you are not going to do anything about offsetting the spending unless you get a robust growing economy and you make dramatic cuts which this administration and this president has done neither. >>neil: i know you came out in support of newt gingrich who is not polling receipt right now,
he is in trouble politically, and some are thinking why don't you quit so the conservative support can coalesce around us, what do you think of that? >>guest: well, you are right. the proportion at that machine states use in order to allocate their delegates is working against newt gingrich since he now is in they are place and you are right, the numbers are not in his favor. however, i believe that every candidate has a right to decide from their perspective whether they should get out of race or stay in the race. i don't know newt gingrich's plan (b) although i supported him. but the numbers are working against him and for another campaign or for some of the establishment republicans to suggest he ought to get out, it has to be up to the candidate of
the campaign. it is almost harder to decide to get out of the campaign like i did than it is to decide to get in to the campaign to run in the first place. >>neil: do you think the longer the race drags on, the more damage it does to him and the closer you get to the convention, if we do not have it resolved, the more it looks like whoever gets the nomination is a sure loser. >>guest: i do believe it is doing damage. if romney does get the nomination he is going to have to do some things differently in order to win and i have publicly said this and i hope his people are listening. if he gets the nomination he can win if, if, if he embraces some of the good ideas that have come from the other candidates like newt. he has great idea with the $2.50 plan. he has a plan. i offered him my 9-9-9 plan.
if he adopted good ideas that have surfaced he is listening to the people and considering an outside perspective. too often campaigns are too inward and not listening to the people. i hear from people all over the country all the time we want bold solutions, put bold solutions on the table and they don't care where they come from even if it comes from someone who may have competed against him for the nomination. that is my advice. >>neil: duly noted. they are watching. they are watching. herman cain thank you. they say this has a problem getting foreclosed jazzed. did he fine the answer? >> you looking for free stuff, forgive the guy that is what he is all about.
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>> you get to ask your question, i will give my answer, if you don't like my answer you can vote for someone else. >> america is right and you are wrong. >> if you want to speak you can speak. but right now it is my turn. >>neil: time for mitt to let it rip. he did that. again. taking on heckler in illinois campaign event and steve brown was. and he joins us from illinois. steve? >>reporter: that was yesterday in peoria, and, one of the most dangerous things or scary things for a campaign is an open microphone and unscripted moment and if you have a campaign for the white house and not take questions, pack it up and go home. romney has been taking questions out in the field in front folks and, yesterday, this was this
exchange. >> you do not really ... and the pursuit of happiness, what would make me happy is free birth control. >> you know, let me tell you, look, look, look let me tell you something. if you looking for free stuff, if you are looping for free stuff you don't have to pay for vote for the oh guy harassment is what he is about. okay? that is what he is about. >>reporter: sometimes the moments work and sometime they can backfire. that happened with senator senator obama in northeast ohio. where would joe the plumber be if not for the open mike. and another thing happening in illinois the home of the provide marry, consider the dime and how thin it is. that is the difference between a good and bad ballot, which has
been the problem in illinois. 24 counties and the city of suburb of chicago, getting some ballots too large, too wide, and they are not fitting in the machine and it is costing time because they have to do the tabulation by hand of the ballots or cut temperature down to size so they will fit. both will slow down the results from today. but we toll it is being handling efficiently. >>neil: guess who will be the real winner after tonight? he is here after the break. [ male announcer ] any technology not moving forward
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you. congratulations there, sir. >> thank you. >> sarah palin, who did you vote for? >> i knew you were going to ask me that. having being asked via a ballot, who would be your preferred candidate for president, tonight, i said, nutnewt. >> the early sentiment express bide brokerage houses and money tightens the world over, including donald trump. >> i think a lot has to do with markets. i don't think the markets would like to see ron paul winning. >> the former new york stock exchange chairman degrassa. >> america is not where it needs to be. >> the microsystems co-founder. >> the uncertainty that has been created by the current administration is destroying jobs. >> i have heard you say that some of these people had written you in. and we know that's a fraud -- >> see, that's not even necessary. that's not even necessary. >> i don't hate everybody. i just hate you! [laughter] >> in addition to aging, i have also lost 15 pounds i. you don't
have to rub it in. see, that was totally unnecessary. [laughter] >> i gave you a low blow, you come back with the weight. >> we passed on him. >> regrettably? >> yes, yes. we have to. our fans expect us to look altevery opportunity. >> we are staying on until a winner is declared. just get some pizza, it's going to be a long night t. could be sloppy. but we will cover the tide. we are here, around the clock. i am going to be like the guest who refuses to leave your home in the middle of the night after a party, ordering pay per view and raiding your refrigerator. i'm going to keep doing it. >> call it so i can go to bed. >> all right. we are a financial network. beginning tonight at 7:58 p.m. a lot of people say a business new york network, why, why?
they all say this is the most cons quential election of our time. it means more than anything else. yet, when you look at what they are offering, whether it's skillet commercial, there is a new one that nothing sticks to it -- sounds great. or they are running years-old "60 minutes" episodes from another network, i might point out. that questions how seriously they take t. i believe, if you build it, they will come. at fox business, you have been coming. we appreciate it. we are going to be all over it again tonight because your money matters. you matter. when we say this is the most cons queial election of our time, we mean. >> it we will make you dinner. we will watch the slides to disneyland or whatever. >> why do i have to cook? >> well, you cook. we will do that,